NI Feed Wheat Futures Plummet Amid Volatile Global Grain Markets

Northern Ireland's feed wheat futures dropped significantly last week, reversing some of the prior week's gains. The Nov-26 contract closed at £196.50/t on Friday, down by £3.25/t (-1.6%) from the previous week.

The Relative Strength Index (RSI) decreased from 75 to 70, remaining in the overbought zone but potentially triggering a pause or retreat in prices if there isn't further supportive market news.

Global grain markets remained volatile last week, influenced by currency movements and supply fundamentals. The European Commission lowered its 2026/27 EU grain production forecasts, with soft wheat production estimated at 124.4 Mt, down from 126.3 Mt last month and 8% below the previous season.

Soft wheat exports have been reduced to 29.0 Mt, while end-season stocks are expected to fall to 12.9 Mt. The sharpest revision was for maize, with EU production cut to 51.9 Mt from 59.9 Mt in June, driven by lower plantings and challenging growing conditions.

Paris rapeseed futures also came under pressure last week, decreasing by 6.7% from Friday 24 to Friday 31 July, closing at £438.99/t. The relative strength index (RSI) is 49, down from 63 the week prior.